Adviser consolidator Kingswood said it has agreed "non-binding" heads of terms with a provider of "substantial" growth capital to support its acquisition pipeline of more than £100m.
The financial advice network said the non-binding agreement it had secured related to a potential equity investment in the form of convertible preference shares. Kingswood said it was now undertaking an "extensive" due diligence review of the equity provider and had continued to explore opportunities to source additional funding to support the execution of its acquisition pipeline. The group also said the injection of capital would be "consistent" with the group's strategy of pursuing "accretive" acquisitions across the UK and internationally, a number of which are in "advanced stages...
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